Market Wrap: Prop’s Rule Changes Spark Debate; Can Kraken–Deutsche Börse Pact Boost Crypto?

Saturday, 10/01/2026 | 04:00 GMT by Jared Kirui
  • Google to allow U.S. prediction market ads only from federally regulated firms.
  • Hong Kong’s financial watchdog fined Saxo Bank’s local unit HK$4 million (US$514,000).
Kraken (shutterstock)

Google allows ads for prediction markets

The calendar has flipped to 2026 and markets have wasted no time in setting a new tone. Google will allow prediction market ads in the U.S. only for firms under federal oversight, drawing a clear line between CFTC-regulated event contracts and binary options, which will remain banned.

Under the new rules, regulatory status becomes the key condition for accessing Google’s advertising inventory. However, Google is not positioning itself as a financial regulator.

FundingTicks faces backlash over rule change

In the prop trading space, Futures prop trading platform FundingTicks recently faced intense criticism from traders on social media after reportedly introducing a minimum one-minute trade hold time and applying the change retroactively to existing accounts.

Many users say the shift disrupted active strategies such as scalping and argue that altering rules after trades were placed created confusion and losses.

However, In response to the uproar, CEO Khaled issued a detailed message defending the firm’s record, saying he has paid out more than US$220 million and has always put traders first.

Prop firm Match tracked $325M in 2025 trader payouts

Prop firm payouts to traders in 2025 are widely debated, but Prop Firm Match estimates that firms collectively paid out nearly 325 million dollars over the year.

The figures come from the site’s own payout tracker, which compiles self-reported data from prop trading companies. According to the tracker, Dubai-based FundedNext led the field with almost 108 million dollars in payouts.

FundingPips and FundedNext Futures, the futures-focused arm of FundedNext, followed with about 97 million dollars and 46 million dollars in payouts to traders, respectively.

Does the Kraken–Deutsche Börse pact simplify crypto?

In the crypto space, Kraken’s partnership with Deutsche Börse is expected to deliver new products and services spanning trading, custody, settlement, collateral management and tokenized assets, and could act as a model for similar alliances in future.

The agreement between the US-based cryptocurrency exchange and the Frankfurt-headquartered exchange and market infrastructure group is designed to strip out costs, delays and other frictions that have discouraged clients from moving between fiat and crypto.

Doo Group rebrands UK and South Africa units

Meanwhile, brokers are kicking off the year by overhauling their brands. Doo Group rebranded its South Africa and United Kingdom brands to RKX after previously renaming its prime services arm from Doo Prime to D Prime.

According to Companies House filings, the UK-registered entity formerly known as Doo Clearing has been renamed RKX Financial. The broker has also updated the new trading name with the Financial Conduct Authority, aligning its regulatory records with the fresh branding.

Silver trading at CFD broker ZXCM jumps 300%

At the same time, ZX Capital Markets (ZXCM), a contracts for difference broker launched in 2023, says about 70 per cent of its 100 billion dollar trading volume in 2025 came from gold. The firm also reports that client demand for silver trading surged by roughly 300 per cent in the fourth quarter of last year.

Gold gained around 60 to 65 per cent over 2025, while silver rose by about 140 to 150 per cent, making it one of the strongest-performing major commodities in that period. Those sharp moves appear to have drawn more traders into both metals on the ZXCM platform.

IG offers cash interest

IG plans to raise the interest rate it pays on uninvested cash for new clients and scrap quarterly inactivity fees on its investment accounts. The changes are aimed at making its platform more attractive to retail investors who hold idle balances.

Rival platforms have rolled out similar incentives, including interest on idle cash, yields on uninvested funds and the removal of inactivity fees. Together, these moves highlight a broader push by brokers to win and retain clients by offering better returns on cash and more competitive account pricing.

Exante’s UK unit halts new client onboarding and deposits

This week, another UK broker quietly hit pause on new money flowing into its local entity. LHCM, the UK-regulated brand of Exante Group, suspended onboarding new clients and stopped accepting deposits from existing clients, describing the move as voluntary and made in agreement with the Financial Conduct Authority.

A notice on LHCM's website
A notice on LHCM's website

The firm said the suspension covers arrangements involving client money or assets under the client assets regime, title transfer collateral arrangements, delivery versus payment transactions and matched principal transactions, among others. The restrictions effectively limit how the UK entity can handle client funds and trading activity for the time being.

Saxo Hong Kong fined

In Hong Kong, Securities and Futures Commission reprimanded and fined Saxo Bank’s local unit HK$4 million (about US$514,000) for offering 32 cryptocurrency products to retail investors that were intended only for professional clients. The regulator said Saxo Capital Markets HK breached licensing requirements by allowing retail traders access to unauthorized virtual asset products through its online platform.

The penalty follows the Danish bank’s decision to close its Hong Kong office and cease operations in the city about a year ago, as part of a shift in focus toward its Singapore hub. The SFC emphasized that Saxo’s actions exposed retail investors to products beyond their risk tolerance, underscoring regulatory scrutiny on crypto-related offerings in Hong Kong’s tightly supervised market.

FX firms find value in sports

Lastly, there’s a significant gap in forex services for sports clubs, as highlighted by the £22 million English Premier League teams reportedly lost in FX fees during the last player transfer window.

This inefficiency has created opportunities for forex and payments companies such as Airwallex and Corpay to step in, offering specialized FX solutions while striking distinctive promotional partnerships with football and other sports teams.

Traditionally, sports sponsorships have served as a major marketing tool for financial services firms. However, payments providers are now taking these collaborations further by integrating practical services into their deals—streamlining cross-border payments and minimising currency losses for clubs involved in international transactions.

Google allows ads for prediction markets

The calendar has flipped to 2026 and markets have wasted no time in setting a new tone. Google will allow prediction market ads in the U.S. only for firms under federal oversight, drawing a clear line between CFTC-regulated event contracts and binary options, which will remain banned.

Under the new rules, regulatory status becomes the key condition for accessing Google’s advertising inventory. However, Google is not positioning itself as a financial regulator.

FundingTicks faces backlash over rule change

In the prop trading space, Futures prop trading platform FundingTicks recently faced intense criticism from traders on social media after reportedly introducing a minimum one-minute trade hold time and applying the change retroactively to existing accounts.

Many users say the shift disrupted active strategies such as scalping and argue that altering rules after trades were placed created confusion and losses.

However, In response to the uproar, CEO Khaled issued a detailed message defending the firm’s record, saying he has paid out more than US$220 million and has always put traders first.

Prop firm Match tracked $325M in 2025 trader payouts

Prop firm payouts to traders in 2025 are widely debated, but Prop Firm Match estimates that firms collectively paid out nearly 325 million dollars over the year.

The figures come from the site’s own payout tracker, which compiles self-reported data from prop trading companies. According to the tracker, Dubai-based FundedNext led the field with almost 108 million dollars in payouts.

FundingPips and FundedNext Futures, the futures-focused arm of FundedNext, followed with about 97 million dollars and 46 million dollars in payouts to traders, respectively.

Does the Kraken–Deutsche Börse pact simplify crypto?

In the crypto space, Kraken’s partnership with Deutsche Börse is expected to deliver new products and services spanning trading, custody, settlement, collateral management and tokenized assets, and could act as a model for similar alliances in future.

The agreement between the US-based cryptocurrency exchange and the Frankfurt-headquartered exchange and market infrastructure group is designed to strip out costs, delays and other frictions that have discouraged clients from moving between fiat and crypto.

Doo Group rebrands UK and South Africa units

Meanwhile, brokers are kicking off the year by overhauling their brands. Doo Group rebranded its South Africa and United Kingdom brands to RKX after previously renaming its prime services arm from Doo Prime to D Prime.

According to Companies House filings, the UK-registered entity formerly known as Doo Clearing has been renamed RKX Financial. The broker has also updated the new trading name with the Financial Conduct Authority, aligning its regulatory records with the fresh branding.

Silver trading at CFD broker ZXCM jumps 300%

At the same time, ZX Capital Markets (ZXCM), a contracts for difference broker launched in 2023, says about 70 per cent of its 100 billion dollar trading volume in 2025 came from gold. The firm also reports that client demand for silver trading surged by roughly 300 per cent in the fourth quarter of last year.

Gold gained around 60 to 65 per cent over 2025, while silver rose by about 140 to 150 per cent, making it one of the strongest-performing major commodities in that period. Those sharp moves appear to have drawn more traders into both metals on the ZXCM platform.

IG offers cash interest

IG plans to raise the interest rate it pays on uninvested cash for new clients and scrap quarterly inactivity fees on its investment accounts. The changes are aimed at making its platform more attractive to retail investors who hold idle balances.

Rival platforms have rolled out similar incentives, including interest on idle cash, yields on uninvested funds and the removal of inactivity fees. Together, these moves highlight a broader push by brokers to win and retain clients by offering better returns on cash and more competitive account pricing.

Exante’s UK unit halts new client onboarding and deposits

This week, another UK broker quietly hit pause on new money flowing into its local entity. LHCM, the UK-regulated brand of Exante Group, suspended onboarding new clients and stopped accepting deposits from existing clients, describing the move as voluntary and made in agreement with the Financial Conduct Authority.

A notice on LHCM's website
A notice on LHCM's website

The firm said the suspension covers arrangements involving client money or assets under the client assets regime, title transfer collateral arrangements, delivery versus payment transactions and matched principal transactions, among others. The restrictions effectively limit how the UK entity can handle client funds and trading activity for the time being.

Saxo Hong Kong fined

In Hong Kong, Securities and Futures Commission reprimanded and fined Saxo Bank’s local unit HK$4 million (about US$514,000) for offering 32 cryptocurrency products to retail investors that were intended only for professional clients. The regulator said Saxo Capital Markets HK breached licensing requirements by allowing retail traders access to unauthorized virtual asset products through its online platform.

The penalty follows the Danish bank’s decision to close its Hong Kong office and cease operations in the city about a year ago, as part of a shift in focus toward its Singapore hub. The SFC emphasized that Saxo’s actions exposed retail investors to products beyond their risk tolerance, underscoring regulatory scrutiny on crypto-related offerings in Hong Kong’s tightly supervised market.

FX firms find value in sports

Lastly, there’s a significant gap in forex services for sports clubs, as highlighted by the £22 million English Premier League teams reportedly lost in FX fees during the last player transfer window.

This inefficiency has created opportunities for forex and payments companies such as Airwallex and Corpay to step in, offering specialized FX solutions while striking distinctive promotional partnerships with football and other sports teams.

Traditionally, sports sponsorships have served as a major marketing tool for financial services firms. However, payments providers are now taking these collaborations further by integrating practical services into their deals—streamlining cross-border payments and minimising currency losses for clubs involved in international transactions.

About the Author: Jared Kirui
Jared Kirui
  • 2522 Articles
  • 52 Followers
About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 2522 Articles
  • 52 Followers

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